"A private gas supply means we can run a data center to mine Bitcoin relatively cheaply," Reabold co-CEO Sachin Oza told The Telegraph. "Initially, this would help fund the further development of the gas field and prove the concept—meaning it could become the precursor to a far larger data center."
“The significant onshore natural gas resource at the West Newton site in Yorkshire has and will continue to be progressed for the benefit of U.K. energy security, which is particularly important at this time of significant geopolitical uncertainty,” the firm wrote in its media clarification.
“In addition, Reabold will continue to engage with all stakeholders, both locally and nationally, to ensure the optimal development pathway for West Newton is achieved,” it added.
“Successful implementation of such a project could allow for the development of a larger-scale data center at site, which would not preclude the potential for gas to grid, or gas to industrial consumption development options,” it wrote.
The firm’s response follows criticism from anti-fracking leader Lorraine Inglis, who told The Telegraph that “using that gas to power Bitcoin mining is not energy security or any genuine public benefit, but the deliberate burning of fossil fuels for one of the most energy-intensive and socially questionable activities at a time of high bills and missed climate targets.”
Shares in the firm (RBD) were up 7.3% on Monday on the clarification that followed Sunday’s Telegraph report.
